Banking and financial services in North Carolina: Credit unions widely available. Local community banks prominent. Major banking hub in Charlotte. Diverse financial service providers. Competitive mortgage rates. Accessible financial planning services. Abundance of ATMs statewide. State-specific financial regulations. Growing fintech scene. Customer-focused service culture.
Credit unions widely available.
State Employees' Credit Union (SECU) is one of the most widely available and highly regarded credit unions in North Carolina, offering a comprehensive array of financial services including checking and savings accounts, auto and home loans, and credit cards. Membership is open to individuals associated with certain state and public entities, ensuring its commitment to community support. Meanwhile, Self-Help Credit Union serves not only throughout North Carolina but also extends its reach to other states, focusing on creating and protecting economic opportunities for underserved communities. Their offerings include low-cost loans, comprehensive checking and savings accounts, and convenient mobile banking services. Additionally, NC Community Credit Union stands out locally with no-fee checking accounts, low-interest auto loans, and personalized service that emphasizes community engagement and the return of profits to its members.
Local community banks prominent.
Local community banks in North Carolina, such as First Bank and North State Bank, offer a blend of personal service, extensive financial services, and advanced technology, while being deeply invested in the local community. These banks provide a wide range of services including personal and business loans, mortgages, investment options, and tailored banking products, making them viable alternatives to larger national banks. For more about the benefits and services offered, visit Local First Bank online to explore your options.
Major banking hub in Charlotte.
Charlotte, North Carolina, is the second-largest financial industry city in the United States, driven by the presence of major banks like Bank of America and the East Coast headquarters of Wells Fargo. The city's growth in banking is attributed to historical legal loopholes that allowed for the expansion of retail banking, and it continues to thrive with a significant increase in financial industry jobs and a strong fintech sector. For more detailed insights, you can visit the comprehensive resource on Charlotte's banking industry.
Diverse financial service providers.
North Carolina hosts a diverse range of financial service providers, including First Citizens Bank, BB&T, and ASB Bancorp, which offer services such as banking, mortgages, investment management, insurance, and wealth management, catering to various needs of individuals and businesses across the state. For a detailed list of the top financial entities, you can visit the Best Finance Companies in North Carolina online resource.
Competitive mortgage rates.
As of December 11, 2024, borrowers seeking competitive mortgage rates in North Carolina can consider a variety of options. Among these, a notable choice is the 30-Year Fixed rate option, which offers an interest rate of 6.500% and a 6.950% APR. Additionally, there is a 15-Year Fixed rate available at 5.625% with a 6.380% APR, providing a shorter-term alternative. Another option to consider is the 7/6 ARM rate, featuring an interest rate of 6.125% and a 7.188% APR. For more detailed information and to explore these rates further, you can visit Total Mortgage's Mortgage Rates page for North Carolina.
Accessible financial planning services.
Smith Salley Wealth Management offers customized, comprehensive financial planning and investment management services in North Carolina, with a focus on personalized, transparent advice and unparalleled service accessibility. Meanwhile, The Collaborative NC provides various resources, including pro bono financial planning services for low-income families, financial education tools, and connections to credible financial resources to help individuals achieve financial wellbeing. On the other hand, Lucid Wealth Planning offers accessible financial planning services, providing comprehensive financial planning, investment management, and tax planning through virtual meetings and advanced technology, catering to busy professionals and those seeking transparent, fee-only fiduciary advice.
Abundance of ATMs statewide.
In North Carolina, the abundance of ATMs is significant, particularly in major cities like Charlotte and Raleigh, with banks such as PNC Bank operating a large network; as of 2017, PNC Bank had 9,051 ATMs across 19 states, including North Carolina, as part of its extensive retail banking services.
State-specific financial regulations.
In North Carolina, banking and financial services are regulated under Chapter 53C of the General Statutes, which includes provisions for the scope and applicability of banking laws, prohibitions on unauthorized banking activities, definitions of key terms, and requirements for new banking activities, including approvals and supervisory oversight by the Commissioner of Banks. The regulations also address the rights and privileges of federally chartered and out-of-state banks operating in the state, as well as the powers and limitations of banks engaging in various financial activities. For more detailed information, you can refer to the Commissioner of Banks official documentation.
Growing fintech scene.
North Carolina has emerged as a leading hub for FinTech innovation, driven by its strong banking background, particularly in Charlotte, the presence of top universities providing skilled talent, supportive government policies, and an affordable cost of living. The state is home to companies like AvidXchange, nCino, and Spreedly, and is seeing significant growth in areas such as AI, blockchain, and cybersecurity, making it an attractive location for both established companies and startups. For more details on how North Carolina is accelerating its influence in this sector, visit FinTech Innovation.
Customer-focused service culture.
In the realm of banking and financial services, a customer-focused service culture, as exemplified by the State Employees' Credit Union (SECU), emphasizes providing 24/7 member helpline support, personalized financial solutions, and multiple channels for customer interaction. This includes automated systems, mobile apps, and direct contact with specialists for various financial needs. Enhancing customer service in banks also involves promoting financial literacy, using contextual data, and blending traditional and digital components for an omnichannel experience. Furthermore, investing in advanced technology and soliciting customer feedback are essential strategies to ensure personalized and seamless interactions. A prime example of these principles can be found on the SECU Contact Us page, where different methods of customer engagement are outlined to meet and exceed expectations.